Bitbay Exchange Enters Indian Cryptocurrency Markets

Bitbay has announced that it will enter the Indian cryptocurrency markets, with the company’s Indian exchange expected to be operational before the end of August. Bitbay is Poland’s largest exchange by trade volume and is set to become the first international Bitcoin exchange operating within India’s cryptocurrency markets.

Bitbay Will Offer Demo Trading Before Launching Full Operations on August 24th

BitBay Enters Indian Cryptocurrency Markets

Bitbay has announced that it will be launching its exchange platform for the Indian cryptocurrency markets. Bitbay will be the first cryptocurrency exchange to offer altcoin trading – providing trading pairs for ethereum, litecoin, lisk, monero, ash, and gamecredits.

From August 14 Bitbay will offer demo trading that does not involve using real money, before launching full operations on August 24th. In a recent interview with Money Control, Bitbay India Head, Rohit Dahda has stated “we are taking all necessary steps to adhere prescribed rules for Bitbay India. In fact, we are offering demo trading for users before using real currency to bring a level of confidence in common people.”

At a launch function for the new exchange, Bitbay CEO, Sylwestor Suszek, stated that “Bitbay India has been conceptualized to provide innovative services, support, and solution for cryptocurrency users in terms of fast and secure transactions. Our team consists of specialists and Bitcoin enthusiasts who are active in the crypto community, attend industry conference events and support charity causes via meaningful fund donations to relevant Indian societies”. An official press release states that “the prime objective of Bitbay India is to remove all misconceptions related to cryptocurrency, drive more people towards digital currencies, attract potential investors from the market and offer all round platform to trade as well as exchange multiple cryptocurrencies at Bitbay.”

Despite Regulatory Uncertainty, Bitbay Plans to Expand Its Share of the Indian Cryptocurrency Markets in Coming Months

BitBay Enters Indian Cryptocurrency Markets

According to Coinmarketcap, Bitbay hosts the largest BTC/PLN market by volume, with Bitbay’s 24-hour volume sitting around $8.35 million at the time of this article’s composition – equating to roughly 0.26% of total global Bitcoin trade. “We are the number one in Eastern-Central Europe with more than 200,000 users. We are number 10 in the world and are in operations since 2014,” Suszek told Moneycontrol.

Despite the nation’s current climate of regulatory uncertainty regarding India’s cryptocurrency markets, Bitbay plans to expand its presence in India over the coming months, including the introduction of up to 17 different altcoins. “Very soon, we will be bringing more features on the platform to cater to requirements of common people on a day-to-day basis. We are following a high-security model and following two-fold authentication models for the safe transaction,” states Rohit Dahda.

How to buy Bitcoins and Litecoins at Bitbay.net?

1) The first step leading to quick and safe purchase of cryptocurrencies is registering with Bitbay.net, by clicking „Register” button in the right upper corner on the website. At the beginning, you just need to give your email address. After a moment you will receive an e-mail with an activation link. Click on “Activate your account”. Next, you will be asked to complete the registration. In the form, enter a chosen username, password and a hotline PIN (selected by you), which will be helpful while contacting BitBay customer service. After having filled out registration form, a confirmation e-mail will be sent to you.

2) Once your account has been created, you may log into your panel. Choose “Deposits” from the on the left. Choose a deposit currency and the amount of funds you wish to send. Fiat currencies supported at Bitbay.net include PLN, USD and EUR. Proceed with your payment using the account number visible on the screen. Please don’t forget to use the correct payment title.

3) Once you have funds on your account, you may start buying Bitcoins and Litecoins. Choose „Exchange” from unfolding menu and use Instant Buying option (just type the desired amount of cryptocurrency and our system will automatically buy the best offers for you) or else create your own offer.

4) After finalizing the transaction, BTC/LTC will immediately appear on your account. There is an ample of choice as for what you can do with them now: send them to someone, to an external wallet or else keep them at Bitbay.net and earn money through trading.

How to safely sell BTC/LTC at Bitbay.net?

1) The first step leading to the quick and safe purchase of cryptocurrencies is registering with Bitbay.net, by clicking “Register” button in the right upper corner on the website. At the beginning, you just need to give your email address. After a moment you will receive an e-mail with an activation link. Click on “Activate your account”. Next, you will be asked to complete the registration. In the form, enter a chosen username, password and a hotline PIN (selected by you), which will be helpful while contacting BitBay customer service. After having filled out registration form, a confirmation e-mail will be sent to you.

2) After logging in, make yourself at home first a little bit – our site is really extremely intuitive! Now that you feel comfortable, choose „Deposits” from the unfolding menu on your left-hand side. Choose the currency you are interested in (BTC/LTC), scan the QR code with your phone and send desired amount of funds to your individual address (visible above the code). Funds will be added to your account after getting sufficient number of confirmations from the miners.

3) Having assets on your account, choose „Exchange” from the unfolding menu. You have two options now: either create your own offer by choosing Limited Selling or else just indicate the amount of BTC/LTC you wish to sell and our system will automatically choose the best offers for you.

4) When the transaction is finished, a given amount of funds will appear on your account – you can withdraw them in three available fiat currencies (PLN, EUR, USD) or use them for trading.

How to register at BitBay?

visit BitBay.net Click on “Registration” button on the home page. Type in your email address. After a moment you will receive an e-mail with an activation link. Click on “Activate your account”. Next, you will be asked to complete the registration. In the form, enter a chosen username, password and a hotline PIN (selected by you), which will be helpful while contacting BitBay customer service. After having filled out the registration form, a confirmation e-mail will be sent to you. fill out all required fields and create a new account. You will receive an activating link, aimed to verify your e-mail address. After activating your account, feel free to log in and start using our platform.

What do you think about Bitbay’s entry into the Indian cryptocurrency markets? Share your thoughts in the comments section below!

Ravindra Paradhi

Engineer & Blogger.

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